December 21 (SeeNews) - The Zagreb Stock Exchange temporarily suspended from trading eight companies of troubled food-to-retail concern Agrokor until the circumstances surrounding the reported resignation of Agrokor receiver are made public, the companies said on Wednesday.
The shares of frozen food producer Ledo [ZSE:LEDO-R-A], food company Belje [ZSE:BLJE-R-A], meat processing company PIK-Vinkovci [ZSE:PIVK-R-A], news stand operator Tisak [ZSE:TISK-R-A], agricultural conglomerate Vupik [ZSE:VPIK-R-A], mayonnaise and margarine maker Zvijezda [ZSE:ZVZD-R-A], soft drinks and water bottling co Jamnica [ZSE:JMNC-R-A] and wholesaler Zitnjak [ZSE:ZTNJ-R-A], have been suspended from trading temporarily, the eight companies said in separate filings to the ZSE.
The bourse said it made the decision based on media reports which suggest Ante Ramljak has submitted to the government an "irrevocable resignation". The ZSE believes this information will affect the process of extraordinary management in Agrokor and the share prices of the companies in the concern, according to the filings.
"A situation has arisen in which it is necessary to protect investors by halting the trade of shares of the companies in question until the public is fully and accurately informed about the circumstances."
Late on Tuesday, local media reported that the receiver of Agrokor, Ante Ramljak, has handed in his resignation to prime minister Andrej Plenkovic.
Ramljak, Plenkovic and his closest aides held a meeting that ran late into the night on Tuesday, after it was earlier revealed that the receiver had hired his former employer, Texo Management consultancy, to advise on the process of Agrokor restructuring, news broadcaster HRT reported.
Ramljak is believed to have handed in his resignation to the prime minister during the meeting.